BP (NYSE:BP) Reaches New 1-Year High - Time to Buy?

Key Points

• BP shares hit a new 52-week high Monday, trading as high as $40.68 and last at $40.52 on volume of about 4.29 million shares.
• The company reported a blowout quarter—$10.00 EPS vs. a $0.57 estimate and $47.38 billion in revenue vs. $42.19 billion expected—yet analysts remain mixed, with a MarketBeat consensus rating of "Hold" and a $37.35 average price target below the current share price.
• BP declared a quarterly dividend of $0.4992 (annualized $2.00), implying a 4.9% dividend yield, with an ex-dividend date of February 20 and payment on March 27.

BP p.l.c. (NYSE:BP - Get Free Report)'s share price hit a new 52-week high on Monday . The stock traded as high as $40.68 and last traded at $40.52, with a volume of 4294711 shares trading hands. The stock had previously closed at $40.44.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BP shares. Wall Street Zen cut shares of BP from a "buy" rating to a "hold" rating in a research note on Saturday, February 14th. Barclays reaffirmed an "overweight" rating on shares of BP in a research note on Friday, December 12th. Melius Research downgraded BP from a "buy" rating to a "sell" rating and set a $31.00 target price on the stock. in a report on Wednesday, February 11th. Jefferies Financial Group reissued a "hold" rating on shares of BP in a research note on Thursday, January 8th. Finally, HSBC cut shares of BP from a "hold" rating to a "reduce" rating and set a $38.50 price objective for the company. in a research report on Thursday, February 12th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have issued a Hold rating and five have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $37.35.

BP Stock Performance

The company has a debt-to-equity ratio of 0.74, a current ratio of 1.26 and a quick ratio of 0.98. The stock has a market capitalization of $107.16 billion, a price-to-earnings ratio of -4,082.92, a price-to-earnings-growth ratio of 1.86 and a beta of 0.31. The stock has a 50-day moving average of $37.03 and a 200 day moving average of $35.68.

BP (NYSE:BP - Get Free Report) last issued its earnings results on Tuesday, February 10th. The oil and gas exploration company reported $10.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $9.43. The company had revenue of $47.38 billion for the quarter, compared to analyst estimates of $42.19 billion. BP had a net margin of 0.03% and a return on equity of 9.68%. The company's revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 EPS. On average, analysts expect that BP p.l.c. will post 3.53 EPS for the current year.

BP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, February 20th will be given a dividend of $0.4992 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Friday, February 20th. BP's payout ratio is presently -19,700.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strategic Advocates LLC acquired a new stake in shares of BP in the third quarter valued at approximately $25,000. Heartwood Wealth Advisors LLC acquired a new stake in BP in the 3rd quarter valued at $26,000. Twin Peaks Wealth Advisors LLC bought a new stake in BP during the 2nd quarter worth about $27,000. YANKCOM Partnership boosted its stake in shares of BP by 1,068.3% during the 4th quarter. YANKCOM Partnership now owns 958 shares of the oil and gas exploration company's stock worth $33,000 after buying an additional 876 shares during the last quarter. Finally, Triumph Capital Management bought a new position in shares of BP in the 3rd quarter valued at about $43,000. 11.01% of the stock is currently owned by institutional investors.

BP Company Profile

BP plc is a British multinational integrated energy company headquartered in London. Originating in the early 20th century as the Anglo-Persian Oil Company, BP has grown into one of the world's largest oil and gas companies, operating across exploration and production, refining and marketing, trading, and a range of low-carbon businesses.

The company's core activities include upstream exploration and production of crude oil and natural gas, midstream and trading operations, and downstream refining, marketing and supply of fuels, lubricants and petrochemicals.

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